Team Solana has initially identified the reason for the security incident affecting thousands of wallets on 3/8.

locating the cause of the problem of Slope wallet

As reported, Solana's network on August 3rd encountered a serious security incident that resulted in approximately 8,000 wallets being compromised and withdrawn. Because hackers don't attack smart contract of any project, so the vulnerability is identified to come from an affected wallet project, which includes Phantom, Slope and .

After a period of gathering information from affected users to identify common ground, determined the cause of the attack originated from the Slope wallet.

“Following investigation by developers and security experts in the ecosystem, it appears that the affected addresses at some point created, imported, and used wallet-related applications. Slope.

This vulnerability affects only one Solana wallet, and Slope's other hardware wallets remain secure. While the exact cause is still being determined, the private key information may have been accidentally passed on to an application monitoring service.

There is no evidence that the Solana protocol or its cryptographic aspects have been compromised.”

A representative for Slope wallets also shared information on what happened, admitting that a group of Slope wallets were affected in the attack and that they are likely the source. Slope also advises users that please create a new wallet and transfer your assets there, don't reuse the old wallet or the old seed phrase.

Many users , from the disclosures of Solana and Slope, tried to trace the attack and found that Slope had inadvertently sent seed phrases to 3rd party partners.

After finding the cause, CEO Sam Bankman-Fried commented that Solana is currently the most underrated crypto project at the moment, comparing the damage of the recent crash (about 6 million USD) to the bridge attack. The $190 million Nomad cross-chain took place 1 day earlier.

“This is an example of how something can be looked down upon.

One someone is infiltrated and all the sins are brought to the head communication. To be clear, none of Solana's infrastructure has had issues, it's all because of a third-party app that some people used.

In a related development…”

Price , though, has yet to show any signs of recovering from yesterday's dump because of rumors that the vulnerability could spread to the entire network.

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1h graph of pair / on the floor at 08:08 AM on 04/08/2022

At the beginning of June, the Solana network also experienced an issue that resulted in a blockchain outage lasting more than 4 hours. That was the 4th time Solana "collapsed" in 2022 alone.

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